Swaps pricing for the Federal Reserve 2024 easing reached new lows on Friday, there are about 40bps of rate cuts priced in by the end of the year
Markets were expecting around 160bps of rate cuts at the beginning of the year, the delta in Q1 Fed pricing is remarkable
So far this year, the biggest daily reductions of Fed easing bets were seen around mid-month trading, once the Non Farm Payrolls and CPI reports were out of the way
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